RWA Wealth Partners LLC Trims Stock Position in Salesforce Inc. $CRM

Key Points

• RWA Wealth Partners LLC reduced its stake in Salesforce Inc. by 24%, selling 2,651 shares and valuing its holdings at approximately $2.25 million.
• Analysts have set varying price targets for Salesforce, with Morgan Stanley aiming high at $404, while other reports suggest targets as low as $325, reflecting mixed market sentiments.
• Salesforce reported a revenue of $9.83 billion for the last quarter, exceeding analyst estimates and marking a 7.6% increase from the previous year, alongside a quarterly dividend of $0.416 per share.

RWA Wealth Partners LLC cut its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 24.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,375 shares of the CRM provider's stock after selling 2,651 shares during the period. RWA Wealth Partners LLC's holdings in Salesforce were worth $2,248,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Cornerstone Select Advisors LLC boosted its stake in shares of Salesforce by 31.4% during the 1st quarter. Cornerstone Select Advisors LLC now owns 2,262 shares of the CRM provider's stock worth $607,000 after purchasing an additional 541 shares during the period. Korea Investment CORP boosted its stake in shares of Salesforce by 3.1% during the 1st quarter. Korea Investment CORP now owns 812,404 shares of the CRM provider's stock worth $218,017,000 after purchasing an additional 24,781 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of Salesforce by 267.3% during the 1st quarter. Aptus Capital Advisors LLC now owns 48,821 shares of the CRM provider's stock worth $13,101,000 after purchasing an additional 35,529 shares during the period. Granite Harbor Advisors Inc. boosted its stake in shares of Salesforce by 39.2% during the 1st quarter. Granite Harbor Advisors Inc. now owns 1,034 shares of the CRM provider's stock worth $277,000 after purchasing an additional 291 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of Salesforce by 12.5% during the 1st quarter. Brooklyn Investment Group now owns 8,544 shares of the CRM provider's stock worth $2,293,000 after purchasing an additional 950 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on CRM shares. Barclays dropped their target price on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research note on Monday. Canaccord Genuity Group dropped their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Cantor Fitzgerald downgraded shares of Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday, July 10th. The Goldman Sachs Group upped their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley restated an "overweight" rating and issued a $404.00 target price (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $342.89.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,061,511,978.42. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 52,577 shares of company stock valued at $13,528,188 over the last three months. Company insiders own 3.00% of the company's stock.

Salesforce Stock Up 0.8%

NYSE:CRM traded up $1.8650 during midday trading on Friday, reaching $247.6950. 4,629,045 shares of the stock traded hands, compared to its average volume of 7,225,452. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The business has a 50-day moving average of $258.58 and a two-hundred day moving average of $273.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $236.80 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 2.24 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. On average, equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce's dividend payout ratio is presently 25.98%.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.